Innovative firms face competition much more quickly than they did one hundred years ago
a. True
b. False
Indicate whether the statement is true or false
True
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In 2008, Precision Pattern Interiors, which makes high-end aircraft interiors, began a $1 million renovation of a building at the Hutchinson Air Base Industrial Tract south of Yoder, Kansas
The company will also add some $400,000 in new equipment and triple its Yoder work force. Which of Precision Pattern Interiors' decisions is a short run decision? A) triple its Yoder work force B) $1 million renovation of a building at the Hutchinson Air Base Industrial Tract C) $400,000 in new equipment purchases D) All of these decisions are short run decisions.
An inflation-induced increase in the effective tax rate on interest income and capital gains results in
a. a leftward shift of the saving schedule. b. a rightward shift of the saving schedule. c. no shift of the saving schedule. d. a rightward shift of the investment schedule.
An effective import quota is one that
a. reduces imports to zero b. increases exports c. reduces the price of an imported good below the world price d. limits imports to less than what would be imported under free trade e. reduces demand for a good to zero
Temporary changes in the price level caused by changes in the business cycle are called:
A. demand push inflation. B. cost push inflation. C. demand pull inflation. D. cost pull inflation.